I have one old v1 cam, the rest are v3 or v4. The v1 shows signs of overheating, brown coloration of the white plastic on the camera on all sides. Disconnected it and won’t be using it again. Suggest if you have any v1’s left you consider disconnecting them. Wyze support AI also said to discontinue use of v1 cams.
Agreed, I would stop using it, most likely the battery is no good and is swelling. You do not want to risk a fire. That’s a very old cam and lithium batteries have a finite lifespan.
I have 2 still in use, one exposed indoors looking in my sump, the other covered in a case outdoors. The one indoors still looks crisp and clean.
I always confuse the v1 and Outdoor v1, both are from long before my time using Wyze stuff.
Regardless, probably good to stop using that one. It could just be low heat over a long period of time that caused it, but that seems excessive.

